Entities That May Be Conducting Banking Operations In the United States Without Authorization

The Office of the Comptroller of the Currency has published an updated list of entities that may be conducting banking business in the United States illegally or without authorization. Any proposed transactions involving any of the listed entities should be viewed with extreme caution.

The attached listing is an updated summary of entities identified in previous Financial Institution Letters on this subject. However, this listing does not contain the names of entities furnished by state or foreign governments. Therefore, you should retain for your records: FIL-17-91, dated April 23, 1991, containing a listing of bank licenses revoked by the Government of Montserrat; FIL-56-91, dated November 19, 1991, containing a listing of companies purporting to be banks, but that are not licensed as such by the government of Grenada; FIL-32-93, dated May 18, 1994, containing a list of entities that are not licensed chartered banks in Belize; FIL-65-94, dated October 7, 1994, containing a list of entities not licensed to conduct banking activities in the State of New York; and FIL-31-95: Financial Institution Letters: dated April 13, 1995, containing names of entities that may be operating in Canada in violation of the Bank Act (Canada) and may be conducting unauthorized banking transactions in the United States.

(1) Not associated with Ameritrust Texas, N. A., Two Embarcadero Center, Suite 1800, San Francisco, California, a licensed entity in the State of California.

(2) Not associated with Franklin Trust Company, 1800 Gateway Drive, San Mateo, California, a licensed entity in the State of California.

(3) Subject entity has issued instruments titled AMERITECH EXPRESS INSURANCE [sic] TRAVELERS CASH NEGOTIABLE AT CURRENT RATE OF THE CHASE MANHATTEN [sic] BANK OF NEW YORK FOR DOLLARS, POUNDS, PESOS, YEN. To date, banks which have accepted such instruments have been unable to effect collection. Entity is not associated in any manner with The Chase Manhattan Bank, N. A., multi-national bank headquartered in New York.

(4) Not associated with the Bank of England, Threadneedle Street, London, England.

(5) Has issued "prime bank" guarantees. The Central Bank of the Czech Republic has disavowed and voided such transactions.

(6) Barclays Bank PLC, a multi-national banking organization headquartered in London, U. K., reports that it does not have a banking office at the address indicated.

(7) Not associated with First Bank System, Inc., Minneapolis, Minnesota.